NextEnergy Capital (NEC) is pleased to announce the final close of NextPower UK ESG (NPUK) at £733 million, significantly surpassing its initial target of £500 million by nearly 50%. As the UK’s largest private fund focused on new-build solar, NPUK plays a key role in the country’s Clean Power 2030 ambitions by accelerating domestic green power production and energy security.
A Strong Market Demand for Solar Investments
The fund has already deployed over 70% of committed capital and recently acquired its 15th asset, bringing total portfolio capacity to 731MW, including 249MW of operational projects such as Llanwern Solar Farm—the UK’s largest operating solar asset. A further 482MW of solar and storage projects are in construction or ready-to-build, with NPUK set to surpass 1GW when fully deployed.
The National Wealth Fund acted as a cornerstone investor, contributing £250 million in match-funding to attract private capital. NPUK also secured commitments from local government pension pools and international investors seeking stable, long-term returns from utility-scale solar assets in the UK.
Driving Impact & Growth
Classified as an Article 9 Fund under EU SFDR, NPUK integrates transparency, biodiversity measures, and measurable sustainability impact. Once fully operational, the portfolio will generate enough clean energy to power over 371,000 households and offset 887,000 barrels of oil equivalent per year.
Michael Bonte-Friedheim, CEO of NextEnergy Group, stated:"We raised £733 million and reached a final close nearly 50% higher than the Fund’s initial target of £500 million. The UK remains an attractive and deep market to deploy utility-scale solar and there is a significant opportunity through the UK’s clean energy ambitions for investors to capture this growth with the right execution partners. In anticipation of this, NextEnergy Capital will be launching a new follow-on strategy, NextEnergy UK II, early this summer.."
This success highlights the growing investor appetite for renewable infrastructure, positioning NEC as a key player in the UK’s journey towards a net-zero future.
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